The Mad Money host is bullish on the stock, especially because of its growth overseas. He called the World Cup a long-term driver for Nike , not a short-term one, as it the company’s Chinese business. He said the booming middle class in China will lead to increased consumption, and that bodes well for this sneaker and apparel maker.
Cramer said Under Armour makes an “interesting play” on China as well, as that company is supposed to open its first stores in Shanghai at the end of 2010, but he still likes NKE more.
“I think that you buy Nike,” Cramer said.
Caterpillar’s newly raised dividend is proof that it, along with 3M and DuPont , is “doing far better than people are realizing,” Cramer said. He described CAT has “one of the strongest stories out there, and it just got stronger.” He urged investors to “keep coming back to these companies.”
And finally, Weatherford International’s CEO told Cramer Tuesday night that drillers outside the Gulf of Mexico and those that operate on land are the best positioned to thrive following BP’s disastrous spill.
While CNBC’s Erin Burnett pointed to potential pollution related to shale drilling, therefore erasing the idea that land drilling was problem free, Cramer noted how EOG Resources has snapped back since its 14-day suspension in Pennsylvania. He saw similar moves in Devon , Range Resources , National Fuel Gas and Chesapeake Energy since then as well.
“We’re seeing a bid underneath in these stocks,” Cramer said, “that I find to be encouraging.”
When this story published, Cramer's charitable trust owned Weatherford International.
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